FROM
Valuing mines from a desk
Fitch Ratings. Danareksa. Merrill Lynch. Sigma Batara. JP Morgan. Almost two decades of Indonesian mineral assets, each one a number in a model.
ABOUT PETRASYS · THE QUESTION
Petrasys started with a simple question: why do so many mineral discoveries never become mines?
Indonesia is not short on geology. It is short on proof.
The country sits on some of the richest mineral belts in the world, yet very few discoveries ever become mines — and the reason is rarely the rock. Evidence needed to justify capital arrives late, costs too much, and carries too much uncertainty to underwrite. Ground goes unproven, not because it is barren, but because nobody could afford to find out.
THE REALIZATION · THE GAP BETWEEN DISCOVERY AND VALUE
TO
Running mines from the pit
Indika Energy from 2007. CEO of Multi Tambangjaya Utama, then of Indika Indonesia Resources. The same assets, now measured in tonnes and shifts.
The view from the pit was not the view from the model.
LATE
Evidence arrives years after it is needed
Conventional exploration works through a wide area slowly, and the answer lands long after the investment window has moved.
EXPENSIVE
Proof costs more than the prospect is worth
Drilling blind across hundreds of square kilometres consumes the budget that should have developed the deposit.
UNCERTAIN
The case is never bankable enough
Without confidence in grade and continuity, capital prices the risk instead of taking it, and the asset stalls.
The riskiest stretch of a mineral asset's life is the span between a discovery and a bankable case. The industry calls it the valley of death — and nobody had industrialized it.
ENTRY STRATEGY
Our Value Proposition
Creating and enhancing value across mineral and coal assets throughout the mine life.
Investment in Greenfield Projects
- Co-investment (equity investment) in project early development
- Main operation is to conduct geological analysis, permitting, and scout drilling
- Deploy relevant advanced technology
End to End Exploration Services
- Perform and/or offer drilling service, value engineering services including FS, DFS, and FEED for mineral projects
- Potential sweat equity
Advanced Geoscience Services
- Operations Management Services
Operational Excellence Enhancement
- Digitalization & Automation
Mine Closure
- Provide mine closure and rehabilitation services
THE FOUNDING · WHY PETRASYS EXISTS
Petrasys was founded to close the gap between mineral potential and realized value.
The next generation of Indonesian mineral assets will not be unlocked by geology alone. Across mineral and coal assets, the discipline is the same: build better evidence, make better decisions, and execute with greater certainty.
01
Better evidence
Satellite, geophysical and hyperspectral data read together, so a belt is understood before a rig is ever mobilized.
02
Better decisions
Machine-learning targeting that narrows 300 km² of ground to a 10–15 km² drill decision, and says plainly what is not worth drilling.
03
Better execution
Operating discipline that turns a mine plan into volume reliability, quality certainty and cost predictability.
VISION & MISSION
VISION
To be the partner that turns Indonesia's mineral and coal potential into proven, well-operated value.
01
Prove the ground faster
Advanced geoscience and AI-assisted targeting to shorten the distance from prospect to bankable case.
02
Operate to a standard
Volume reliability, quality certainty and cost predictability, held to across the full mine plan.
03
Share the risk
Enter as a partner, as an operator, and where the geology justifies it, as a co-investor.
04
Build capability that stays
Transfer the technology, systems and skills to the teams we work alongside.
05
Close responsibly
Treat rehabilitation and mine closure as part of the value delivered, not an afterthought.
FOUNDER PRINCIPAL
One career, both sides of the gap.
Hanifa Indradjaya spent nearly two decades valuing Indonesian mineral assets, then a decade running them — the exact gap Petrasys was founded to close.
1992 – 2007
The desk
Fitch Ratings, Danareksa, Merrill Lynch, Sigma Batara, JP Morgan. Indonesian mineral assets, valued from the outside.
2007 – 2016
The pit
Corporate finance at Indika Energy, then CEO of Multi Tambangjaya Utama and of Indika Indonesia Resources. The model met the ground.
2016 – 2022
The proof
CEO of Petrosea Tbk. He did not commission a digital strategy, he ran one. Project Minerva rebuilt a fifty-year-old company around data, and drew recognition at the World Economic Forum in 2019 and Hannover Messe in 2021. Through one of the sector's harshest downturns the company held its footing, then posted multiple all-time highs.
TODAY
Petrasys
The same proof, moved upstream — to the stage where value is created rather than defended.
LEADERSHIP
CEO, Petrosea Tbk (2016–2022) · CEO, Indika Indonesia Resources (2015–2016) · CEO, Multi Tambangjaya Utama (2013–2015)
DIGITAL TRANSFORMATION
Initiated and led Project Minerva, recognized at the World Economic Forum (2019) and Hannover Messe (2021)
CAPITAL MARKETS
Indika Energy Corporate Finance · JP Morgan · Merrill Lynch · Fitch Ratings · Danareksa · Sigma Batara
EDUCATION
MBA, UC Berkeley (1997) · SE, Fakultas Ekonomi Universitas Indonesia (1992) · Certificate of Management Excellence, Harvard Business School (2019)
THE WHO · OUR PEOPLE
